Why Luxury Needs to Think Differently About Sustainability to Reach Gen Z
Jing Daily Future of Luxury Column by Daniel Langer, CEO of Équité and Executive Professor of Luxury Strategy, Pepperdine University
Key Takeaways:
Luxury is not about craftsmanship or quality because those traits are expected in the field and are “priced in.”
The most important consumer group for luxury this decade is Generation Z, and they are the first generation to vote for sustainability with their wallets.
Being perceived as a follower is a no-go in luxury, and claiming to be “progressive” or “innovative” means nothing if consumers do not perceive it.